TSG Consumer Partners, based in San Francisco, says it has acquired LuckyVitamin, of Conshohocken, in partnership with its founder Sam Wolf, from GNC Holdings, the store chain that sells lightly-regulated “dietary supplements,” for an undisclosed price. GNC put the business up for sale earlier this year after reporting disappointing online vitamin sales and writing off $19.4 million (pretax) to reflect the brand’s drop in value earlier this year.
Buyer TSG, which owns Pabst Blue Ribbon beer and dozens of other brands, is “the ideal partner” to “drive the accelerated growth” of LuckyVitamin, said Lucky founder Sam Wolf, who sold the family company to Pittsburgh-based GNC in 2011 and has continued to run the business.
GNC’s total online vitamin sales, from GNC.com and LuckyVitamin, totaled around $200 million last year. In early 2016, Wolf said LuckyVitamin employed around 200 and had sales approaching $100 million. In its last annual report, GNC said 61 people work at LuckyVitamin’s Leetsdale, Pa. warehouse near Pittsburgh. LuckyVitamin sales totaled around $40 million when GNC bought the business in 2011.
LuckyVitamin, a successor to Wolf’s former health food store and the family pharmacy in Eagleville, Pa., says it sells 40,000 branded and private-label products including vitamins and supplements, foods, cosmetics, and pet products.
Wolf “is an industry innovator” who has built “a global e-commerce destination,” said TSG managing director Michael Layman in a statement. He added that he pans to keep Wolf and “the rest of the LuckyVitamin team” as TSG focuses on expanding “a more premium experience.”